Monthly Maintenance of Replenishable Custodian Fund
Reminder, reconcile bank statements monthly and list the following: outstanding checks, amounts
yet to be replenished, bank balance to check book balance, check book balance to custodian fund
level. Review example of bank reconciliation. (attach example of a bank reconciliation)
Reminder, checks can only be written out to the human subject.
Reminder, you cannot make cash withdrawals from custodian fund bank accounts.
Reminder, you cannot deposit into custodian fund bank accounts from other bank accounts (University or
personal) or make cash deposits. Only Cash Management is allowed to make deposits to custodian fund bank
Prepare the monthly Custodian Fund Accounting form as follows:
1. Identify the original Custodian Request Form and Custodian Fund Number (NRXXXXXXX)
2. PI/Delegate completes Custodian Fund Accounting Form.
3. Verify that you have the correct Custodian Fund number for the fund you are accounting for.
4. Monthly, if no activity has occurred:
a. See example of Custodian Fund Accounting form for No Activity
b. Remember to write “No Activity” across the body of the form
c. Skip to Step 7.
5. Monthly, if activity has occurred:
a. See example of Custodian Fund Accounting form with activity
b. Check the box called Reimbursement Due
c. Attach a Log
Log form: http://www.bussvc.wisc.edu/acct/forms/capp6.doc
Completing the Custodian Fund Accounting form:
6. Fill in the line under grayed out line as a positive amount* for the total expenditures reported on log. Use the
Account, Fund, DeptID, Prog.(program), Project which you want these expenditures to be charged to. (Can be
different than original request and could be multiple funding lines). Use original Custodian Fund ID.
*Replenishable Bank accounts can only be reimbursed for checks written to human subjects
Make sure correct SFS account code is being used (Link to SFS coding).
Use account code 2637 for human subject expenditures
a. Fill in amount expensed as reflected by log
b. Make sure to use correct fund/project (still active with funds available)
7. Fill in the custodian name and check payable information. Check payable will be to US Bank with last 5 digits
of the bank account regardless if there is no activity or activity.
8. Leave the “Deliver To” box empty.
9. Complete the “Call for more information” box (department financial information person).
10. Leave “Check Amount” box blank.
11. Itemized Expenditures Section:
a. Fill in the complete Bank account Number (no spaces or dashes)
b. Bank Account name per bank statement
c. Under program expense section, enter research expenses per participant or summarize payment total and
attach a log detailing expenses per participant.
d. Confirm log totals agree with program expense section and these expenses agree with amounts listed on
upper left hand corner of form.
12. Form is signed by the custodian (PI).
13. Verify information on Steps 1-12
14. Enter information on Spread Sheet Tracker including next anticipated action date. Check the spread sheet
Funding ending - action: Submit new accounting form with new funding 30 days in advance.
Funding out of money - action: Submit new accounting form with new funding 30 days in advance.
Custodian fund agreement is ending - action: Submit accounting form to close or extend (for replenishable
accounts only) 30 days in advance.
15. Department approver signs custodian fund accounting form.
16. File original documents in department.
1. Send copy(s) to the Dean’s/Division Office for approval.